Seeking to enhance green mobility, the Union Cabinet on Wednesday approved the 'PM-eBus Sewa' scheme under which 10,000 electric buses will be provided to 169 cities under the public-private partnership (PPP) model.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
The maiden voyage has 32 tourists from Switzerland signing up for the entire length of the journey.
Sitharaman said, public private partnership to be unleased to develop rail infrastructure.
The Centre's ambitious Rs 6-trillion National Monetisation Pipeline (NMP) could fall short of yearly targets for the current fiscal year (FY22) and the next one as well (FY23), partly due to the long gestation period in monetising big-ticket railway infrastructure, Business Standard has learnt from sources in the finance and rail ministries. Officials say the major chunk of railway monetisation will happen from FY24 onwards because leasing some of the infrastructure, like stadiums and dedicated freight corridor, will not happen anytime soon. Rail infra is expected to be the second-biggest contributor to the NMP, with about Rs 1.52 trillion worth of assets to be monetised.
At least 50 travel destinations would be developed as a "complete package" and states will be encouraged to set up a 'unity mall' for the sale of their products, Finance Minister Nirmala Sitharaman announced in the Budget on Wednesday, asserting that promotion of tourism will be taken up on a "mission mode".
The Indian Space and Research Organisation (ISRO) will launch two initial missions later this year under the Gaganyaan programme, followed by country's maiden human space-flight mission in 2024, Union Minister Jitendra Singh has said.
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
The doctors' bodies said that the two sides reached consensus during talks with the state government agreeing to keep private hospitals that have not availed land at subsidised rates or other benefits from it outside the ambit of the proposed law.
Tata Consultancy Services on Friday said it has been selected by the Ministry of External Affairs (MEA) for the second phase of the Passport Seva Program. In the next phase of the programme, TCS will refresh existing facilities and systems, and develop innovative solutions to enable the issuance of e-passports and further enhance the citizen experience, using technologies, such as biometrics, artificial intelligence, advanced data analytics, chatbots, auto-response, natural language processing, and the cloud, a statement said. Launched in 2008, the Passport Seva Program saw TCS transforming the delivery of passport-related services, digitising the processes, and setting global benchmarks in timeliness, transparency, and reliability.
Finance Nirmala Sitharaman on Friday asked various ministries to try to spend more than their capital expenditure targets as well as explore public private partnerships for viable projects. During a meeting with senior government officials to discuss the infrastructure roadmap, she also urged the ministries and their CPSEs to ensure clearance of Micro, Small and Medium Enterprises (MSME) dues at the earliest. This was the fifth review meeting by the finance minister with ministries and departments on the infrastructure roadmap.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
The Cabinet on Wednesday approved public private partnership mode for the rollout of BharatNet project for broadband services in villages in 16 states with viability gap funding of Rs 19,041 crore, Telecom Minister Ravi Shankar Prasad said. Prasad said the decision to involve private players was taken after Prime Minister Narendra Modi announced on August 15, 2020 that around 6 lakh villages in the country will be connected with broadband in 1,000 days. "The Cabinet has in-principle approved implementation of BharatNet in 16 states in a public private partnership model with total expense of Rs 29,430 crore.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
After launching expressway projects worth almost Rs 1 trillion, the Uttar Pradesh government is now betting big on the aviation sector to propel the state's economic growth. Air travel, comprising both business and leisure, is expected to give a fillip to the socioeconomic landscape by attracting fresh investment. It would also ramp up infrastructure and create jobs.
Day 5 of Parliament's monsoon session 2020. Watch all the action in both houses LIVE here.
Going against the assurances given to the Kerala high court, the protesters agitating in front of the under-construction Vizhinjam seaport had on Saturday blocked the trucks carrying construction materials to the site.
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system. "India in particular, by laying the groundwork for digital public infrastucture starting with identity system, allows people to build on top of that.
A former Indian Administrative Service officer of the 1994-batch, Vaishnaw has handled important responsibilities for over 15 years and was particularly known for his contribution to the public-private partnership (PPP) framework in infrastructure, something that will help him in the rail sector.
In sectors like IT, cybersecurity, advanced manufacturing, and transportation, the H-1B One Workforce grant programme would be used to upskill the present workforce and train a new generation of workers.
The six Pinaka Regiments comprise of 114 Launchers with automated gun aiming and positioning system and 45 command posts to be procured from M/s TPCL and M/s L&T, and 330 vehicles to be procured from M/s BEML.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The ministry said the 'multi-mode' hand grenades will replace the "World War II vintage" grenades being used by the Indian Army.
After having received the government purchase order for 55 lakh doses, Bharat Biotech shipped the first batch of vaccines (each vial containing 20 doses) to Gannavaram (Vijayawada), Guwahati, Patna, Delhi, Kurukshetra, Bangalore, Pune, Bhubaneswar, Jaipur, Chennai and Lucknow.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
These airports are those at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur and Trichy.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
The Centre will promote Kisan Drones, chemical-free natural farming, public-private partnerships for the delivery of digital and high-tech services to farmers across the country during the financial year 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Budget 2022-23 in Parliament, Sitharaman said the inclusive development is one of the four priorities of the government moving forward. As part of the inclusive development, the government will promote the use of 'Kisan Drones' for crop assessment, digitisation of land records and spraying of insecticides. The government will also facilitate a fund with blended capital raised under the co-investment model through Nabard to finance agri start-ups and rural enterprises, she said.
Only NIIF has stayed the course as a viable infrastructure financing institution.
Ad man Gerson da Cunha, a multi-faceted personality who was very passionate about civic activism in later years, died in Mumbai on Friday. He was 92.
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals (BHEL) are in talks for a partnership to run private trains. According to officials in the know, the two public sector undertakings (PSUs) are planning to form a special purpose vehicle (SPV) to run passenger trains on routes for which IRCTC has put in bids. "BHEL will be putting in the money required for private rail service, while IRCTC is going to focus on operational requirements," an official said. "IRCTC's business model has not been capital expenditure-focussed. It has built only operational enhancements," he added. Bids for public private partnerships (PPPs) in passenger train operations were opened last month.
Finance Minister Nirmala Sitharaman on Friday pitched for front loading of capital expenditure, saying it is critical for revitalisting the economy post the coronavirus pandemic. During a virtual meeting with senior government officials to discuss the infrastructure roadmap ahead, she also asked ministries to aim to achieve more than their capital expenditure (capex) targets. The Union Budget 2021-22 provided a capital outlay of Rs.5.54 lakh crore, a sharp increase of 34.5 per cent over the Budget Estimate of 2020-21.
The investment deficit in the healthcare sector could be bridged through public private partnership (PPP) among other measures, a senior Planning Commission official said on Tuesday.
No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
The Union Cabinet on Wednesday approved the proposal for leasing out airports at Jaipur, Guwahati and Thiruvananthapuram through public-private partnership (PPP).
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
The National Institute of Virology (NIV) in Pune under the ICMR has isolated the monkeypox virus from the clinical specimen of a patient, which can pave the way for development of diagnostic kits and vaccines against the disease, officials said on Wednesday.
The Public Private Partnership Approval Committee (PPPAC), chaired by Economic Affairs Secretary R Gopalan, had granted approval to the six proposals of the ministry of road transport and highways spread across five states, an official statement said.
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